2025 Annual Meeting Spotlights Homeowners Insurance Market Shift
The Surplus Line Association of California (SLA) held its 2025 Annual Meeting on February 11, welcoming over 200 attendees from across the insurance industry. The event featured key insights into market trends, the impact of AI on insurance and the future of surplus lines in California.
A key highlight of the meeting was a data-driven presentation from SLA Data Scientist Mikhail Gorshunov, Ph.D., which revealed the expansion of surplus lines homeowners insurance beyond high-value or high-risk properties. With admitted carriers withdrawing from the market, surplus lines has become a broader coverage solution for California homeowners.
New data shows rapid growth in surplus lines homeowners insurance, with Bakersfield seeing a 2,500%+ increase and San Jose a 1,500%+ increase.
Key Market Trends:
✔ Major metropolitan areas are leading the surge, with Bakersfield seeing a 2,500%+ increase and San Jose experiencing a 1,500%+ increase in surplus lines homeowners’ policies.
✔ Fire-prone regions remain a top focus, as surplus lines provides an alternative for homeowners struggling to secure coverage.
✔ Surplus lines is playing a stabilizing role, helping ease strain on both the admitted market and the FAIR Plan—a trend expected to continue into 2025 and beyond.
The Future of AI in Insurance: Keynote by Mark van Rijmenam
A major discussion point at the meeting was the role of artificial intelligence (AI) in shaping the insurance industry. Keynote speaker Mark van Rijmenam, Ph.D., a globally recognized AI expert, explored how AI-driven automation, predictive analytics and cybercrime are set to disrupt underwriting, risk assessment and the development of new insurance products in an AI-powered world.
Attendees left with a deeper understanding of AI’s disruption on insurance and how leaders in the industry can adapt to these rapid changes.
Watch the 2025 Annual Meeting video
View photos from the event